Prepare for More Cryptocurrency Forks Courtesy of AChain

There has been very solid interest in the AChain project as of late. Most people have no idea what this project is about or why it should even matter. It seems this China-based platform has attracted a lot of attention within the country’s borders. Moreover, there are several dozen DApps running on top of this blockchain already. Now is a good time to look at what this project is all about and why it may impact the future of the cryptocurrencies we all care about.

AChain has its own Forking Technology

No one can deny things have evolved in an interesting direction when it comes to cryptocurrency and hard forks. More specifically, there are so many hard forks of existing currencies, most of them simply get lost in the sea of mediocrity. That is only to be expected, mind you, as most of these hard-forked currencies serve no real purpose whatsoever. In fact, the number of current hard forks of major currencies can be counted on one hand.

If the AChain team is to be believed, however, there is a growing demand for more hard fork solutions. The project has its own forking technology which gives developers all over the world the ability to fork off the main chain of a currency they are passionate about. As one would expect, there will be a Bitcoin fork, known as ABitcoin. This new currency will be distributed on a 1:1 basis to all ACT holders, whereas Bitcoin users will get squat.

As a result, the AChain project may very well become the go-to competitor for any major cryptocurrency in existence today. It will eventually become possible to use ABitcoin, AEthereum, ARootstock, ALitecoin, and so on. It only takes a small team of people to fork AChain into something else entirely. This will create another influx of hard-forked currencies, but they will all have even less to do with the original currencies than most current hard forks do. After all, ABitcoin has nothing to do with the Bitcoin we know, although that may not necessarily be a bad thing.

There is a lot more to AChain than just its forking technology, though. It is a Chinese blockchain ecosystem first and foremost, which also has its own set of distributed applications or DApps. Among these applications are a credit scoring solution, a digital wallet, a game, and point-of-sale solutions. It is also a public blockchain platform, which is something entirely different from what most people might have expected. Anyone can issue tokens, smart contracts, and create their own DApps.

It becomes evident rather quickly how AChain may be capable of rivaling either Ethereum or NEO in the future. That is, assuming the Chinese government will not shut down this project in the near future. After all, the currencies created can still be considered controversial in light of current regulations. For now, there seems to be no concern over what AChain has to offer, but things can always turn around rather quickly, especially in China.

For the time being, it remains to be seen what the future will hold for AChain and all of the currencies being issued through this platform. AChain has a lot of potential, but even projects with top-notch technology are often far less popular than anything that can be pumped to astronomical values in a few hours. The cryptocurrency markets aren’t rational right now, which could hinder the chances of success for projects like these.

About The Author

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.